Buckle up everyone, the banking crisis only looks to be in the eye of the storm, so to speak.
Following the crisis that saw several banking giants fail earlier this year, we have seen some relative calm when it comes to bank closures and forced mergers. However, the worst has yet to occur, sources claim.
According to reports, a total of 2,118 bank branches closed in 2023 alone, and this is simply for most of the year. The total is higher due to the data only spanning 10 months.
Banks are closing down their local branches at alarming rates and have laid off more than 60,000 workers in 2023 alone—does this look like healthy behavior to you?
The Biden regime and the mainstream financial media continue to ensure Americans that the worst is now over and that the U.S. economy will experience a ‘soft landing’ in 2024, but does anyone really believe this?
Banks are hemorrhaging personnel and physical locations, the country is $34 trillion in debt, and inflation has wrecked the spending power of the average American consumer. Vivek Ramaswamy recently warned of another 2008-style financial crisis fomenting:
“Bank of America is now providing *loans without down payment* for home buyers in “black & Hispanic Communities.” Mark my words: This act of “anti-racism” today will be called “systemic racism” tomorrow – when minorities end up defaulting on these loans.”
A quick search online will show this isn’t simply an issue plaguing the United States, Europe is also experiencing similar problems with bank branch closures and unprecedented cashless policies.
Customers of banks are being alerted to the impending wave of branch closures that is expected to occur in 2024. In the UK, the closure of high street bank and building society branches has been made worse by the... #BankClosures #Crisis #Money&Finance
Trust in banks is faltering globally, with recent failures in the U.S. highlighting the risk. People are questioning the safety of their money in traditional banking systems, especially in unstable regions. #BankingCrisis
According to The Wall Street Journal:
Over the past 12 months, Wells Fargo has closed 258 branches, JPMorgan Chase 165 and Bank of America nearly 100, according to S&P Global Market Intelligence.
In all, the number of bank branches in the U.S. has shrunk by more than one-fifth to just 78,000 today from nearly 100,000 in 2009.
Soft profits and aggressive cost cutting mean still more Americans will see their local bank branch close its doors in 2024.
We’ve been warning you:
Bank Crash 2.0 Incoming? “I Think The Banks Are Going Down For 2-3 Weeks”
Earlier today, we reported that MetroBank was on the verge of collapse.
Perhaps by the time you read this it will have already gone under.
I have found it’s very common for bank runs to begin on a Friday, let the panic build over the weekend, and then things open up UGLY on Monday of the following week.
Here’s that story in case you missed it.
I've been saying we almost certainly see a period of time where the banks "shut down" and you can't get your money.
Now I being you this clip from Patrick Bet-David's podcast with Col. Douglas MacGregor who basically confirmed all of that is true.
But worse than I even expected.
I expected maybe 1-2 days of bank closures.
He thinks 2-3 weeks.
He also thinks we don't ever hit a 2024 election.
He sees things getting so bad that we will implode before then.
I don't think he's wrong.
Watch here:
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